Cerebras Valuation Triples to $23B Following $1B Round and OpenAI Deal

AI chipmaker Cerebras Systems raised $1 billion in a Series H funding round. The investment elevates the company's valuation to approximately $23 billion. Tiger Global led the round with participation from Benchmark, Fidelity, Coatue, and AMD.

The new capital nearly triples the company's $8.1 billion valuation recorded four months prior. This funding follows a major compute agreement between Cerebras and OpenAI. Investors view the company's wafer-scale chip technology as a viable alternative to Nvidia GPUs for large-scale AI computations.